Small businesses increasingly a target for cybercriminals

This Feb 23, 2019, photo shows the inside of a computer in Jersey City, N.J. A cyberattack that leads to down time and lost data can be more costly for smaller companies than for larger businesses, an average of $763 per affected computer or other device versus $470, according to a 2018 study by the Poneman Institute, which researches data protection. (AP Photo/Jenny Kane)
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While small and mid-sized businesses are increasingly targets for cybercriminals, companies are struggling to devote enough resources to protect their technology from attack.

Thatā€™s one of the findings of an annual survey of companies released by theĀ PonemanĀ Institute, which researches data protection, and Keeper Security, a manufacturer of password protection software.

The survey found that 76% of the 592 U.S. companies surveyed had experienced a cyberattack in the previous 12 months. That was up from 70% in a survey in 2018, and 63% in a 2017 survey.

The most common attacks were phishing and social engineering scams, cited by 57% of companies. These are invasions that target unsuspecting computer, smartphone and tablet users with realistic-looking emails; if a user clicks on a link or attachment in the email, malicious software is downloaded onto the device. Forty-four percent of companies reported an attack that came via a website.

While businesses of all sizes are victims of cyberattacks, the smaller the companies, the more vulnerable they can be. They donā€™t have large information technology staffs and many donā€™t have expensive, sophisticated software designed to monitor their systems and defend against attacks.

Lack of personnel and not enough money were the top two challenges keeping companies from having a fully effective information technology program. Seventy-seven percent of companies said they didnā€™t have enough staffers, up from 72% a year ago. And 55% said money was a problem, down from 58% a year ago, but still a reflection that a considerable number of companies struggle to meet their cybersecurity needs.

Companies are most concerned about protecting their customer records; 62% cited it as a priority. That was followed by intellectual property, cited by 48%, customer credit and debit card information, cited by 43% and financial information, cited by 30%.

Small and mid-sized company owners have embraced mobile devices as a way to run their businesses. But they recognize that the convenience and efficiency these devices off come at a price; half said the devices have diminished the cybersecurity of their companies.

The survey was conducted during August and September.q